Culver Fund FAQ

What is considered a Culver Fund Gift?- Current use gifts in support of operations (student financial aid, faculty salaries, etc.) count as Culver Fund gifts.

- Multiple year pledges are welcomed, but only gifts received within a current fiscal year (July 1- June 30) will be credited for a Culver Fund gift that year.

- Unbudgeted restricted gifts, formerly known as expense-paid-by-gifts, will count as Culver Fund gifts effective July 1, 2012. This is a change from our previous policy.

What is a gift-in-kind?

- A gift-in-kind is a physical item or evidence of a personal or corporate expenditure which can not be liquidated for cash.

- A gift-in-kind will not be credited to The Culver Fund unless it supports current operations in that fiscal year.

What is an unbudgeted restricted gift?- An unbudgeted restricted gift, formerly known as an expense-paid-by-gift, is an unanticipated donation for a program/item/service that was not part of the approved budget. An expense-paid-by gift will now be credited to The Culver Fund effective July 1, 2012.

How important is The Culver Fund?- The Culver Fund is the lifeblood of the school, directly supporting faculty salaries, facilities upkeep, scholarships & programs - the most important priorities of Culver Academies. Every Culver Fund dollar that we raise allows us to preserve the endowment and to ensure Culver's pre-eminence among college preparatory schools.

What gifts count toward a Class Reunion Culver Fund goal?

- Only Culver Fund gifts received during the current Fiscal Year ending on June 30th.

What gifts do not count toward a Class Reunion Culver Fund goal?

- All pledges- Gifts made in prior years- All non-Culver Fund gifts

What else (in addition to The Culver Fund) can be counted and reported by reunion class

- All classes can report on the total gifts (not pledges) made during the current Fiscal Year ending on June 30th.

- The 50th Reunion Class can report on the total commitments (gifts and deferred gifts, including bequests) made during the five fiscal years leading up to and including the Class reunion fiscal year-end on June 30th. Culver Fund gifts made during this time period will be reflected only in the year in which the gift was made for Culver Fund totals, including the 50th Reunion year, but the total of all Culver Fund giving made during the five year run up will be included in the total class giving number. For example, in the 50th Reunion Celebration year, the class will still have a Culver Fund goal that year, but the total giving for that year and the four preceding years will be included in the total of all Class Giving.

Are gifts to Culver tax deductable?

- The Culver Educational Foundation is a 501(c )(3) organization pursuant to US federal law and gifts to Culver are tax deductible in accordance with the statutes relating to 501 ( c) (3) organizations. The Culver Federal Tax Identification Number is 35-0868071.